The 1.2% growth rate in the January-March period from the previous three months was more than the median forecast in a Reuters poll of economists for 1.0% growth. Household consumption fell less than expected, according to Vieira at Infinity, and is expected to stay surprisingly strong for the rest of the year. Government spending fell and manufacturing contracted. Agriculture grew by 5.7% in the quarter, its fastest pace in four years. The central bank has raised its benchmark Selic rate by 75 basis points at each of its last two policy meetings, to 3.50%, and has indicated it will do so again next month.īrazil's first-quarter growth was driven by services, industry and fixed business investment, official statistics agency IBGE figures showed. "We expect the economy to recover visibly in coming quarters in tandem with further progress on the Covid vaccination front, gradual reopening of the economy, renewed fiscal stimulus, (and) recovering consumer and business confidence," Alberto Ramos at Goldman Sachs said.īrazil's economic recovery has also helped accelerate inflation, prompting aggressive interest rate hikes. 31, a sharp rebound since being down more than 10% year-to-date against the dollar in March.Įconomy Minister Paulo Guedes said growth this year will likely be "very strong", and economists at Citi and Goldman Sachs jacked up their 2021 gross domestic product growth forecasts to 5.1% and 5.5%, respectively. "This makes the outlook for the coming quarters very positive," said Jason Vieira, chief economist at Infinity Asset Management in Sao Paulo, calling the data "a really good set of numbers, especially fixed business investment."īrazil's real rose to 5.15 per dollar, on track to close at its strongest this year. While the rebound has slowed, underlying figures suggest strong foundations for a continued recovery, prompting upward revisions to full-year forecasts and a surge in Brazil's currency. It was the third consecutive quarter of growth. AXS traded at $66.81 at the time of publication and traded between $0.12 and $94.62 over the last year.Īxie enjoys a sizable lead on the next highest sale volume NFT project with CryptoPunks ranking second with lifetime sales of $1.3 billion.Īrt Blocks, NBA Top Shot and Bored Ape Yacht Club rank second through fourth respectively with sales volume of $807 million, $711 million and $485 million.BRASILIA, June 1 (Reuters) - Brazil's economy grew by 1.2% in the first quarter, data showed on Tuesday, faster than economists had expected, as rebounding services and investments took Latin America's largest economy back to is size at the end of 2019, before the pandemic hit. The surge in people playing the game and the sales volume of Axie NFTs has led to strong interest in the AXS cryptocurrency native to the game. The game had 1.5 million daily active players in the last report from the company. The project has gained a loyal following globally especially in parts of Asia where people are playing and turning their NFT sales from the game into income. Why It’s Important: Axie Infinity shows no signs of slowing down, ranking as the top NFT project last week by sales volume and bringing in $765 million in August sales. Related Link: Top 10 NFT Projects By Weekly Sales Volume: Axie Infinity, Bored Ape Yacht Club And More The game was inspired by Pokemon and features battling and breeding mechanisms in the game that can create earnings for players. What Happened: Axie Infinity passed the $2 billion sales volume on Thursday, posting total sales volume of $2.05 billion.Īxie Infinity NFTs have seen 4,887,6645 transactions from more than 615,000 traders. Play-to-earn game Axie Infinity has been one of the most successful non-fungible token projects of all time and hit an important milestone on Thursday.
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